Advantages over Alternative Virus Isolation Techniques to Drive Demand

Over the past few decades, polymerase chain reaction (PCR) molecular diagnostics has gradually established itself as one of the most critical laboratory tools. Advancements in PCR & real-time PCR molecular diagnostics are largely driven by minor changes to enzymes and large-scale changes in a particular result. At present, considerable research and development activities are being carried out to improve the reliability and accuracy of PCR & real-time PCR molecular diagnostics– a factor that is expected to bolster the market growth during the forecast period.

The outbreak of the novel COVID-19 pandemic is expected to play an imperative role in accelerating the growth of the global PCR & real-time PCR molecular diagnostics market, as PCR & real-time diagnostics is highly critical to detect virus in individuals who exhibit no symptoms or signs of disease. In addition, the adoption of PCR & real-time PCR molecular diagnostics is on the rise for the identification and detection of Pseudomonas aeruginosa. This is likely to boost the overall prospects of the global PCR & real-time PCR molecular diagnostics market during the assessment period.

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The increasing collaborations between private scientific laboratories and research institutes is projected to build a solid foundation for the PCR & real-time PCR molecular diagnostics market.

At the back of these factors, along with consistent advancements in technology and virus detection techniques, the global PCR & real-time PCR molecular diagnostics market is expected to surpass US$ 6.5 Bn mark by the end of 2030.

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Strides Taken by Quantitative PCR & Real-time PCR Molecular Diagnostics to Aid Market Growth

At present, the various techniques deployed across the molecular biology and medical diagnostics space are highly time-consuming and labor-intensive due to which, researchers and medical experts continue to focus on the discovery of time-efficient, reliable, and effective medical diagnostics. The PCR & real-time PCR molecular diagnostics has garnered considerable popularity over the past couple of decades, as it enables multiplication of a target DNA molecule due to which, the diagnosis of a range of diseases with a higher accuracy was made possible. This factor is anticipated to drive the PCR & real-time PCR molecular diagnostics market during the assessment period.

Researchers and stakeholders involved in the current PCR & real-time PCR molecular diagnostics market are of the opinion that quantitative PCR & real-time PCR molecular diagnostics is a highly robust and reliable medical diagnostics technique. Moreover, PCR & real-time PCR molecular diagnostics have a lower risk of cross-contamination, as it is predominantly carried out in automated thermal cyclers. Moreover, investments for PCR & real-time PCR molecular diagnostics have witnessed consistent growth over the past decade. Moreover, as per current observations, the trend is set to continue in the upcoming decade, due to the tremendous scope of PCR & real-time PCR molecular diagnostics in the near future.

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The outbreak of the novel COVID-19 pandemic is expected to boost to the overall growth of the global PCR & real-time PCR molecular diagnostics market. Several established international organizations, including IAEA and Food and Agriculture Organization (FAO) are increasingly offering their support and expertise to various nations to facilitate the adoption of real-time reverse transcription- PCR & real-time PCR molecular diagnostics– one of the most reliable and accurate laboratory techniques used to track, detect, and assess the novel COVID-19 coronavirus strain.

The demand for PCR & real-time PCR molecular diagnostics has witnessed noteworthy growth in 2020, as governments of various nations around the world are increasingly offering monetary and policy-driven support to players involved in the PCR & real-time PCR molecular diagnostics market. In comparison with the alternative virus isolation techniques, PCR & real-time PCR molecular diagnostics has a lower risk of cross-contamination and is notably faster. This is expected to drive the demand for PCR & real-time PCR molecular diagnostics during COVID-19.

Analysts’ Viewpoint

The global PCR & real-time PCR molecular diagnostics market is expected to expand at a moderate CAGR of ~4% during the forecast period. The market growth is primarily driven by factors such as advancements in technology, progress made by quantitative PCR & real-time PCR molecular diagnostics techniques, benefits over other virus isolation and detection techniques, and growing emphasis on improving the reliability of end-results of PCR molecular diagnostics. The demand for PCR & real-time PCR molecular diagnostics has witnessed tremendous growth in 2020, due to the onset of the COVID-19 pandemic. Furthermore, as per current trends, the adoption is likely to gain momentum, as governments around the world continue to take drastic measures to curb the transmission of the COVID-19 virus.  

PCR & Real-time PCR Molecular Market: Overview

  • According to Transparency Market Research’s latest research report on the global PCR & real-time PCR molecular market for the historical year (2018), base year (2019), and the forecast period (2020–2030), technological advancements and increase in burden of cancer & infectious diseases across the globe are projected to drive the global PCR & real-time PCR molecular market in the near future
  • According to the report, the global PCR & real-time PCR molecular market was valued over US$ 4.1 Bn in 2019. It is anticipated to expand at a CAGR of ~4% from 2020 to 2030.

Rise in Burden of Cancer & Infectious Diseases to Drive Global Market

  • Rise in prevalence of cancer and infectious diseases is projected to drive the market during the forecast period. Hepatitis and HIV are major infectious diseases. According to the World Health Organization (WHO), as of October 2017, nearly 71 million people across the world were estimated to be suffering from hepatitis C infection. The organization also stated that 36.7 million people were affected with HIV, globally.
  • According to the WHO, lung, breast, colorectal, prostate, skin, and stomach cancer are common types of cancers that are prevalent across the globe. According to the American Cancer Society, the most common cancers in the U.S. are breast cancer, lung cancer, prostate cancer, colorectal cancer, and melanoma. According to the Urology Care Foundation, about one in every seven men is diagnosed with prostate cancer in the U.S., and approximately, one in 35 men succumbs to the disease. In 2020, 191,000 men are likely to be diagnosed with prostate cancer.

Increase in Demand for Molecular Diagnostic Tools to Propel Global Market

  • Expansion of the market is projected to be driven by technological advancement, regulatory approvals, and increase in adoption of molecular diagnostic tools in oncology and infectious diseases. Early detection plays a significant role in management of cancer. Molecular diagnostics offers a wide range of tools for accurate and reliable diagnosis of diseases. Additionally, PCR-based systems help enhance workflow to reduce the overall cost and eliminate the need for multiple systems.

PCR & Real-time PCR Molecular Market: Competition Landscape

  • This report profiles major players operating in the global PCR & real-time PCR molecular market based on attributes such as company overview, financial overview, product portfolio, major brands, business strategies, and recent developments
  • The global PCR & real-time PCR molecular market is highly competitive with the presence of prominent players in the international market. Top players hold prominent share of the global PCR & real-time PCR molecular market.
  • Prominent players operating in the global PCR & real-time PCR molecular market include
    • Abbott Laboratories
    • Bio-Rad Laboratories, Inc.
    • bioMérieux SA
    • Danaher Corporation
    • Thermo Fisher Scientific, Inc.
    • Becton, Dickinson and Company
    • F. Hoffmann-La Roche Ltd 
    • QIAGEN N.V.
    • Hologic, Inc.
    • GRIFOLS
    • S.A.
    • Genomic Health
    • Seegene, Inc.
  • The report on the global PCR & real-time PCR molecular market discusses individual strategies, followed by company profiles of manufacturers of PCR & real-time PCR molecular systems. The competition landscape section has been included in the report to provide readers with a dashboard view and a company market share analysis of key players operating in the global PCR & real-time PCR molecular market.

PCR & Real-time PCR Molecular Diagnostics Market – Scope of the Report

TMR’s report on the global PCR & real-time PCR molecular diagnostics market studies the past as well as current growth trends and opportunities to gain valuable insights for the market during the forecast period from 2020 to 2030. The report provides the revenue of the global PCR & real-time PCR molecular diagnostics market for period from 2018 to 2030, considering 2019 as the base year and 2030 as the forecast year. The report also provides the compound annual growth rate (CAGR) for the global PCR & real-time PCR molecular diagnostics market for the same period.

The report has been prepared after extensive research. Primary research involves bulk of research efforts, wherein analysts conducted interviews with market leaders and opinion makers. Secondary research involves referring to key players’ product literature, annual reports, press releases, and relevant documents to understand the global PCR & real-time PCR molecular diagnostics market.

Secondary research also includes Internet sources and statistical data from government agencies, websites, and trade associations. Analysts have also employed a combination of top-down and bottom-up approaches to study various phenomena in the global PCR & real-time PCR molecular diagnostics market.

The report includes an elaborate executive summary, along with a snapshot of the growth pattern of various market segments included in the scope of the study. Furthermore, the report sheds light on the changing competition dynamics in the global PCR & real-time PCR molecular diagnostics market. These indices serve as valuable tools for existing market players as well as new players interested in entering the global PCR & real-time PCR molecular diagnostics market. The next section of the report highlights the USPs, which include regulatory scenario, overview of in-vitro diagnostics market, technological advancement, key industry events (mergers, acquisitions, collaborations, approvals, etc.), and COVID-19 pandemic impact on industry (value chain and short/mid/long-term impact).

The report delves into the competitive landscape of the global PCR & real-time PCR molecular diagnostics market. Key players operating in the global PCR & real-time PCR molecular diagnostics market have been identified and each one of them has been profiled for distinguishing business attributes. Company overview, financial standings, recent developments, and SWOT are some of the attributes of players operating in the global PCR & real-time PCR molecular diagnostics market profiled in this report.

Key Questions Answered in PCR & Real-time PCR Molecular Diagnostics Market Report

  1. What are major drivers, restraints, and opportunities in the global PCR & real-time PCR molecular diagnostics market?
  2. What is the revenue share projection of key segments of the global PCR & real-time PCR molecular diagnostics market during the forecast period?
  3. Which segment is likely to lead the global PCR & real-time PCR molecular diagnostics market in terms of revenue between 2020 and 2030?
  4. How mergers & acquisitions among players are widening the scope of the global PCR & real-time PCR molecular diagnostics market?
  5. What is the market position of different companies operating in the global PCR & real-time PCR molecular diagnostics market?

PCR & Real-time PCR Molecular Diagnostics Market – Research Objectives and Research Approach

The comprehensive report on the global PCR & real-time PCR molecular diagnostics market begins with an overview of the market, followed by the scope and objectives of the study. Following this, the report provides detailed explanation of objectives of this study and healthcare compliances laid down by accredited agencies in the purview of research in the global PCR & real-time PCR molecular diagnostics market. It is followed by market introduction, market dynamics, and an overview of the global PCR & real-time PCR molecular diagnostics market, which includes TMR’s analysis of market drivers, restraints, and trends pertaining to the global PCR & real-time PCR molecular diagnostics market. Furthermore, Y-o-Y growth analysis with elaborated insights has been provided in order to understand the Y-o-Y growth trend of the global PCR & real-time PCR molecular diagnostics market.

For reading comprehensibility, the report has been compiled in a chapter-wise layout with each section further divided into smaller ones. The entire report comprises an exhaustive collection of graphs and tables that are appropriately interspersed in the entire compilation. Pictorial representation of actual and projected values of key segments is visually appealing to readers. This also allows comparison of market shares of key segments in the past and at the end of the forecast period.

The report segments the global PCR & real-time PCR molecular diagnostics market in terms of technology, product, application, end user, and region. Key segments under each criterion have been studied at length and the market share for each segment by the end of 2030 has been provided. Such valuable insights enable market stakeholders in making informed business decisions for investments in the global PCR & real-time PCR molecular diagnostics market.

PCR and Real-time PCR Molecular Diagnostics Market – Segmentation

 

Technology

  • Traditional PCR
  • Real-time PCR
  • Digital PCR

 

Product

  • Instruments
  • Reagents
  • Consumables

Application

  • Infectious Diseases Testing
    • HCV & HBV
    • Sexually Transmitted Infections
    • Hospital Acquired Infection
    • Respiratory Infections
    • Others
    • Oncology Testing
  • Genetic Testing
  • Others

End User

  • Hospitals
  • Diagnostic Laboratories
  • Academic & Academic & Research Centers
  • Others

Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

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